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Amesbury, MA Home Prices Decline First Half of 2016

Aug 4, 2016 10:54:02 AM

Single-family home prices declined, but sales were strong in Amesbury, Massachusetts during the first half of 2016, according to data compiled by the Massachusetts Association of Realtors. 

Amesbury, MA real estate market report for June 2016The median price of a single-family home in Amesbury, MA declined 4.1 percent to $325,000 from $339,000 during the first six months of 2015. In June the median home price increased 1.4 percent to $336,000 compared to $331,450 in June 2015. 

Single-family home sales increased in June and through June, increasing 27.3 percent and 21.5 percent respectively. Pending sales – properties under agreement that have yet to close – also increased 44.4 percent in June and 35.8 percent through June. New listings declined 22.2 percent in June to 21 compared to 27 in June 2015. 

Homebuyers paid on average 99 percent of the original list price in June and 96.7 percent of the original list price through the first six months of 2016 for single-family houses. 

The Amesbury condominium market has gone in the opposite direction from single-family houses, with sales down, but prices up. Condo sales declined 20.4 percent from January through June to 43 units sold, and units sold dropped 40 percent in June to nine. Pending condo sales declined in June and through June. New condo listings increased by two units to 14 in June, but declined 19.2 percent during the first half of 2016. 

The median condo price increased 26.9 percent through June to $207,500 from $163,500 during the same six-month period last year. Homebuyers paid on average 98.6 percent of the original list price in June and 94.6 percent of the original list price through June.   

Amesbury, MA real estate inventory declined in June. The number of single-family homes on the market in June decreased 28.1 percent to 41 from 57 houses in June 2015. Months supply of inventory declined 42.9 percent to 2.8 months compared to 4.9 months in June 2015. About six months of inventory is considered a balanced market between homebuyers and sellers. The number of condominiums on the market in June declined 17.9 percent, and months supply of inventory declined from 3.9 months to 3.6 months. 

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Topics: Real Estate Market, Community Information, Massachusetts Home Prices, Amesbury MA


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